Salix Pharmaceuticals (Nasdaq: SLXP) reported first quarter product revenue of $202.6 million, an 18 percent increase compared to the prior year, driven by strong sales of its top product Xifaxan.
Xifaxan generated $153.3 million in first quarter sales for the Raleigh company, a 36 percent increase compared to first quarter 2012 sales. Xifaxan is approved to treat traveler’s diarrhea as well as hepatic encephalopathy, a a brain disorder associated with severe liver disease.
Prescriptions for Xifaxan increased 26 percent year over year. Another Salix drug, Relistor, saw prescriptions increase 52 percent year over year. Relistor is a constipation drug.
Under generally accepted accounting principles, Salix reported net income of $22.4 million, or 35 cents per share, fully diluted, for the first quarter of 2013. GAAP net income a year ago was $10.0 million. Salix spent $30.3 million in research and development expenses for the first quarter of 2013 compared to $26.7 million for the first quarter of 2012.
